Europe Hotel Transactions Bulletin - Week Ending 14 August 2020 (August 14, 2020)

Art-Invest acquires Leonardo Royal Berlin Alexanderplatz from Fattal 

Art-Invest Real Estate has acquired the 346-room Leonardo Royal Berlin Alexanderplatz hotel from the Fattal Hotel Group for an undisclosed price for its AIREF Hotel Manage to Core fund as part of a sale-and-lease-back transaction. The property, which is leased for 25 years, will continue to be operated by Fattal under the “Leonardo Royal” brand. The listed building, located near the Prenzlauer Berg district in Berlin, is planned to undergo renovation.
KGAL acquires €250 million mixed-use development site in Munich 

German investment manager KGAL has acquired the Perlach Plaza mixed-use development site in Munich from German developers CONCRETE Capital and BHB Bautrager for €250 million. The purchase, which comprises a 30,000 sqm hotel, retail space, student living, and more than 100 private residences, was reportedly made as a club deal on behalf of KGAL’s alternative investment fund and three unnamed institutional investors. The site in the southeastern borough of Ramersdorf-Perlach is reportedly 70% pre-leased.
 
 

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